Romain Fournier

Chief Editor
Having worked in the British, French and Swiss financial press, Romain is able to report on local and international issues, as comfortable in French as in the language of Shakespeare, Romain Fournier leads the editorial team at Marketscreener. Fine connoisseur of the English-speaking markets, Romain delivers an editorial every day on US and UK markets.

The latest from London: A bit of respite for markets

01/17/2022 | 04:56am EDT

After a week of turmoil spurred by comments from Fed officials about their intention to combat inflation more aggressively, Monday starts with a rebound.

While the FTSE 100 fell 0.3% on Friday, it is up 0.6% this morning, partly boosted by the announcement from GlaxoSmithKline that it rejected three takeover bids for its consumer products arm from Unilever, including a 50-billion-pound offer. The drugmaker will instead proceed to a demerger and stock market flotation this summer.

Energy and mining stocks such as Glencore and Royal Dutch Shell are also among top performers.

Homebuilders also progressed after new data showed real estate asking prices grew at the highest rate in close to six years in early 2022.

Macroeconomic news also comes from China, where GDP in Q4 2021 came in slightly above expectations, allowing Beijing to claim 8.1% growth in 2021, above its target.

This week will be quiet on the central bank side, as no official speech from Fed officials is due until a policy meeting on Jan 26.

 

Things to read today:

Hedge funds oppose SEC’s reform plans after GameStop debacle (Financial Times)

Supply chain constraints may have peaked in 2021 (Financial Times)


© MarketScreener.com 2022
Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.41% 0.70885 Delayed Quote.-3.14%
BRITISH POUND / US DOLLAR (GBP/USD) 0.36% 1.2547 Delayed Quote.-7.70%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.18% 0.7812 Delayed Quote.-1.59%
EURO / US DOLLAR (EUR/USD) 0.23% 1.05932 Delayed Quote.-7.23%
FTSE 100 1.19% 7389.98 Delayed Quote.0.07%
GAMESTOP CORP. -3.56% 95.66 Delayed Quote.-35.53%
GLAXOSMITHKLINE PLC 1.87% 1764 Delayed Quote.9.80%
GLENCORE PLC 0.32% 498.6 Delayed Quote.32.64%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.24% 0.012875 Delayed Quote.-4.36%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.59% 0.6455 Delayed Quote.-6.31%
ON SEMICONDUCTOR CORPORATION 0.70% 56.46 Delayed Quote.-16.87%
SHELL PLC 0.36% 27.595 Real-time Quote.42.91%
UNILEVER PLC 1.88% 3516.5 Delayed Quote.-10.87%